Health Net May Relocate to City

Health Net, one of the state’s top four health-care providers, is considering relocating to Thousand Oaks, according to a city official.

The company, whose eight-year lease at Warner Center in Woodland Hills expires at the end of the year, has listed Thousand Oaks among its six finalists for relocation, said Gary Wartik, the city’s manager of economic development.

The company is meeting today with its real estate broker, Cushman and Wakefield, with plans to pare down its choices to two or three locations, Wartik said.

Health Net is considering a large portion of the 50-acre undeveloped parcel of land in Newbury Park’s Conejo Spectrum office and research park. Health Net also is looking at sites in Santa Clarita and Burbank, among others, Wartik said.

The company might stay put in Woodland Hills but will make a decision by spring, spokeswoman Lisa Haines said. If it moves, Health Net plans to be in its new headquarters by the end of next year, Wartik said.

The company’s employee base of 2,000 people has grown 5% a year, and its annual payroll is $79 million, Wartik said.

“That’s a significant payroll,” said Wartik, who said recruiting Health Net is high on his list of priorities. “We’d be happy to have it here.”

Health Net serves nearly 2.2 million people and operates in 50 counties from San Diego to the Oregon border. The company is affiliated with nearly 40,000 doctors, more than 435 hospitals and 4,000 pharmacies. Its revenues are expected to approach $3.8 billion for this fiscal year, according to the company. It has been in Woodland Hills since 1984.

This is the second major firm to consider the Conejo Spectrum office park in recent weeks. Xircom, a growing local computer networking firm, recently received approval from the Planning Commission to relocate to the office park. It plans to occupy two 100,000-square-foot buildings on 11 acres.